The Chicago Air and Water Show is the largest free show of its kind in the nation, and the second largest festival held in Chicago. Youï¿½ll be able to see stunt pilots, parachute teams, jet fighters, water skiing and boat-jumping competitions. Youï¿½ll be able to hear the jets pretty much anywhere in Chicago, and see it anywhere along the Chicago lakefront. For the best view you can head down to the grandstand at North Avenue Beach, but get there early if you want to beat out the other 3 million people who will be in attendance.